The following information is available for Bridgeport Corporation for 2022:Beginning inventory $1,104,000Ending inventory1,204,000Cost of goods soldSalesInventory turnover7,731,800Calculate the inventory turnover and days in inventory for Bridgeport Corporation. (Round inventory turnover to 2 decimal places, e.g.52.75 and days in inventory to O decimal places, e.g. 5,275.)Days in inventory7,030,000timesdays

Formula is as follows Inventory turnover = cost of goods sold / average inventory Average inventory…

Answered: The following information is available…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The following information was available for Concord Company at December 31, 2020: beginning inventory $163000; ending inventory $117000; cost of goods sold $1330000; and sales $1360000. Concord's inventory turnover in 2020 was O 9.5 times. O 9.7 times. O 11.4 times. O 8.2 times.
use the following information relating to clover company to calculate the inventory turnover, ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023 Sales Cost of goods sold Average inventory Year 2021 250,000 187,500 24,000 Year 2022 295,000 221,250 30,000 Year 2023 323,000 242,250 35,000
Inventory Analysis A company reports the following: Cost of goods sold $800,445 Average inventory 94,170 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover fill in the blank 1 b. Number of days' sales in inventory fill in the blank 2 days
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The comparative inventory balances for December 31, end of the year, for a company are provided below. 20Y6 20Y5 Inventory $100,000 $110,000 Based on this information, what is the percentage of increase or decrease that would be shown in a balance sheet with horizontal analysis?
Inventory Analysis A company reports the following: Cost of merchandise sold $569,400 Average merchandise inventory 87,600 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover fill in the blank 1 b. Number of days' sales in inventory fill in the blank 2 days
Mahoney, Inc. reports the following information in its annual report: January 1, 2024 December 31, 2024 Inventory value at LIFO $1,500,000 $1,600,000 LIFO reserve 40,000 50,000 Inventory value at FIFO $ 1,540,000 $1,650,000 Sales for 2024 totaled $10,000,000. Cost of goods sold under LIFO totaled $ 6,700,000. What is Mahoney's 2024 inventory balance, cost of goods sold and gross profit if it uses the FIFO method?
Use the following information relating to Clover Company to calculate (a) the inventory turnover ratio, (b) gross margin, and (c) the number of days' sales in inventory ratio, for years 2022 and 2023. Assume a year has 365 days. Do not round intermediate calculations and round your final answers to 3 decimal places. Year 2021 Year 2022 Year 2023 Year 2022 Year 2023 Sales $260,000 305,000 333,000 Cost of Goods Sold $187,500 241,250 242,250 Inventory Turnover Average Inventory $25,000 30,000 38,000 Gross Margin Days' Sales in Inventory
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A physical inventory count showed ABC Company had inventorycosting $428,000 on hand at December 31, 2025. This amountdid not include the following:1. Inventory costing $39,000 that was shipped to acustomer FOB shipping point on December 30, 2025.The inventory was expected to be received by thecustomer on January 3, 2026.2. Inventory costing $17,000 that was shipped to acustomer FOB destination point on December 29, 2025.The inventory was expected to be received by thecustomer on January 6, 2026.3. Inventory costing $26,000 that ABC Company hadpurchased from one of its suppliers. The goodswere shipped to ABC Company on December 31, 2025.ABC Company expects to receive the inventory onJanuary 4, 2026. The shipping terms were FOBshipping point.Calculate the correct dollar amount of ending inventoryto be reported on ABC Company’s December 31, 2025 balancesheet.
The following information was available for Metlock, Inc. at December 31, 2022: beginning inventory $82000; ending inventory $124000%3; cost of goods sold $620000; and sales $808000. Metlock inventory turnover ratio in 2022 was O 7.8 times. O 7.6 times. O 5.0 times. O 6.0 times. Saye for Later
During 2021, Stan Company purchased P 1.92M of inventory. The cost of goods sold for the year was P 1.8M and ending inventory was P 360,000. What was the 2012 inventory turnover?

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